{"id":70243,"date":"2023-10-08T14:03:44","date_gmt":"2023-10-08T18:03:44","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/big-brand-names-sell-off-to-new-lows-coca-cola-clorox-pepsi\/"},"modified":"2023-10-08T14:03:47","modified_gmt":"2023-10-08T18:03:47","slug":"big-brand-names-sell-off-to-new-lows-coca-cola-clorox-pepsi","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70243","title":{"rendered":"Big Brand Names Sell Off To New Lows: Coca Cola, Clorox, Pepsi"},"content":{"rendered":"
\n

Coca Cola is allowed <\/em>to make new lows? Even though it\u2019s owned in a big way by some of the largest investment funds in the world? Other huge market capitalization brand names are joining the classic soft drink maker on the last week\u2019s new lows list: Pepsi\u2019s been selling off and so has Clorox
\n CLX
\n <\/fbs-ticker>.<\/p>\n

The dumping of the well-known is likely related to the steadily increasing yields on Treasury bonds and notes, a factor often thought to predict the inevitability of a recession. Those who find themselves without jobs are unlikely to be purchasing the usual number of products no matter how much of a brand name.<\/p>\n

Here\u2019s the Coca Cola daily price chart:<\/p>\n

From the peak of $64 in April to last week\u2019s low of $51.50: that\u2019s a 19.5% drop and the year\u2019s not over yet. Note that the early March low of $57 offered no support once violated in mid-September. Sellers just kept selling. The relative strength index (RSI, below the price chart) reached quite over sold and the stock bounced on Friday.<\/p>\n

<\/fbs-ad><\/p>\n

Berkshire Hathaway of Buffett-and-Munger fame owns a 9.2% share of Coca Cola, not as big as their Apple
\n AAPL
\n <\/fbs-ticker> position but big. The Vanguard funds own 8.5% and investment manager BlackRock
\n BLK
\n <\/fbs-ticker> has a 7.2% ownership stake, according to Kamil Franek Business Analytics. There is a lot of money riding on Coke shares.<\/p>\n

The company has a market capitalization of $229 billion.<\/p>\n

The daily price chart for Pepsi is here:<\/p>\n

Will shares of the other popular sugar, caffeine and carbonated water \u201csoft\u201d drink make a soft landing? Right now, it\u2019s not looking good as the stock took out the February support level on massive Thursday selling. The Friday bounce back is promising \u2014 maybe \u2014 given the big buying volume and a deeply oversold RSI.<\/p>\n

It\u2019s not promising, on the other hand, that the 50-day moving average (the blue line) has crossed below the 200-day moving average (the red line) which is red-circled on the chart.<\/p>\n

Market cap for Pepsi is $220 billion.<\/p>\n

The Clorox daily price chart looks like this:<\/p>\n

Shares of the big consumer products company well-known for its bleach is being unloaded by investors. The April high is $175, last week\u2019s low is $120 \u2014 the stock is down from a 2023 peak to the present by about 30%. Note Thursday heavy selling as represented by the reddish bar along the bottom of the price chart.<\/p>\n

That the stock\u2019s bounce off of Friday\u2019s low failed to fill Thursday\u2019s gap suggests problems. Note how the 50-day moving average crossed below the 200-day moving average in late September. It may be at least slightly encouraging that the relative strength index is showing a positive divergence to price.<\/p>\n

These are just 3 major brand names showing serious selling \u2014 others in the consumer products sectors are showing similar dumping. This suggests that investors looking at the economy and interest rates have now moved into the \u201cno soft landing after all\u201d thinking.<\/p>\n

I am no longer on Twitter \u2014 I have moved to Threads.net.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Coca Cola is allowed to make new lows? Even though it\u2019s owned in a big way by some of the largest investment funds in the world? Other huge market capitalization brand names are joining the classic soft drink maker on the last week\u2019s new lows list: Pepsi\u2019s been selling off and so has Clorox CLX […]<\/p>\n","protected":false},"author":1,"featured_media":70244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-70243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-featured"],"yoast_head":"\nBig Brand Names Sell Off To New Lows: Coca Cola, Clorox, Pepsi | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Coca Cola is allowed to make new lows? Even though it\u2019s owned in a big way by some of the largest investment funds in the world? 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